Forex Technical Analysis & Forecast 20.08.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

20.08.2018

EURUSD, “Euro vs US Dollar”

EURUSD is still being corrected. Today, the price may grow to reach 1.1466 and then fall towards 1.1390, thus forming another consolidation range. If later the instrument breaks this range to the downside, the price may continue falling to reach the target at 1.1185; if to the upside – continue the correction towards 1.1566.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is moving upwards. Possibly, the pair may be corrected to reach 1.2774 and then fall towards 1.2716, thus forming another consolidation range. If later the instrument breaks this range to the upside, the price may trade to reach 1.2900 (an alternative scenario); if to the downside – continue falling inside the downtrend with the target at 1.2600.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still falling; it has already reached its closest downside target and right now is forming the fourth structure. Possibly, today the pair may extend this structure towards 0.9907. Later, the market may start another growth to reach 0.9988 and then fall towards 0.9942, thus forming another consolidation range. After that, the instrument may break the range to the upside and continue growing with the target at 1.0066.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating. Today, the price may fall towards 110.22 and then grow to reach 110.88. An alternative scenario implies that the pair may extend this structure towards 111.66 and then resume trading downwards. The target is at 109.90. And that’s just a half of this descending wave. The short-term target of the third wave is at 107.40.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still being corrected. Possibly, the pair may reach 0.7333 and then fall towards 0.7270, thus forming another consolidation range. If later the instrument breaks this range to the upside, the price may continue the correction to reach 0.7440 (an alternative scenario); if to the downside – resume falling inside the downtrend with the target at 0.7188.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is forming a new ascending structure with the target at 67.77, thus forming another consolidation range at the top. If later the instrument breaks this range to the downside, the price may start forming the third descending wave with the target at 64.09.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

XAUUSD, “Gold vs US Dollar”

Gold has broken the descending channel and the top of the first ascending impulse, and may start another correction towards 1212.00. Today, the price may reach 1204.00 and then fall towards 1186.00. After that, the instrument may resume growing with the first target at 1212.00.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

BRENT

Brent is moving upwards. Possibly, today the pair may reach 72.65 and then fall towards 71.40, thus forming another consolidation range. According to the main scenario, the market is expected to break the range to the upside and then continue growing with the short-term target at 75.50.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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